Sage confirms plans to sell North America payments business

7th Dec 2016 07:07

(ShareCast News) - Accounting software company Sage confirmed it was considering selling its North American payments business, after it had reported flat revenue growth in the year.The FTSE 100 company said it is "evaluating potential strategic options" for the payments business in North America, including a sale, but emphasised that there could be no certainty that the evaluation would lead to any action.In November in its final results for the year ended 30 September, the company said there were "challenges" in the payments business as it had flat year-on-year revenue growth of 4%.This reflected "margin compression in line with industry trends and new account shortfall due to slower progress in marketing and the partner channel".The company said that in order to drive growth in the 2017 financial year it would offer to clients a combination of payments, accounting and payroll.